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PDP Rejects N170 New Fuel Price Template

 

By Myke Agunwa

The Peoples Democratic Party (PDP) has rejected the increase in the pump price of fuel to N170 per liter by the All Progressives Congress (APC) government, describing it as wicked, unbearable and unacceptable.

Nigerian National Petroleum Corporation (NNPC) through its subsidiary, Petroleum Products Marketing Company (PPMC) raised its ex-depot price from N147.67 to N155.17, which indicates an increase of N7.5 per litre.

The party in a statement on Friday by it’s Spokesperson, Kola Ologbondiyan said that given the prevailing excruciating economic crunch already foisted on Nigerians by the Buhari administration, the new petroleum price regime will worsen the already suffocating economic situation in the country.

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The party sad that the APC and its administration have no justification to increase the cost of fuel to anything above N100 per liter not to talk of N170, when there are practical options to maintaining affordable price given the production capacity and potentialities in the energy sector.

“It is evident that the continuous increase in the pump price of fuel under opaque and nebulous indices is a product of incompetence and large scale corruption being perpetrated by a few individuals in the Buhari administration, who are bent on fleecing Nigerians and holding our nation to ransom.

“Our party notes that the APC administration has failed to come clean on the parameters being used for the hike in prices vis-a-vis our production, export and accruing revenue.

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“Indeed, the APC administration is not being honest with Nigerians regarding the status and volume of oil production, sales and accruing revenue.

“This is in addition to its failure to fix our refineries and end crude oil theft, allegedly to aid APC interests” the party lamented”.

PDP alleged that the humongous fraud in the management of oil resources is responsible for the high costs and unspeakable hardship being suffered by millions of Nigerians who can barely afford their meals and basic necessities of life.

The party urged President Buhari to end the corruption and the stealing of oil resource under his watch by APC leaders, recover the looted resources and immediately reverse this increase in price of fuel.

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